CIS: Market for Copper Ores And Concentrates 2024

Market Size for Copper Ores And Concentrates in CIS

In 2021, the CIS copper ores and concentrates market increased by 40% to $X, rising for the fifth year in a row after three years of decline. Over the period under review, consumption, however, saw resilient growth. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Copper Ores And Concentrates in CIS

In value terms, copper ores and concentrates production skyrocketed to $X in 2021 estimated in export price. Overall, production, however, saw a resilient increase. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Exports of Copper Ores And Concentrates

Exports in CIS

In 2021, shipments abroad of copper ores and concentrates increased by 4.1% to X tons, rising for the second consecutive year after two years of decline. Overall, exports showed a remarkable increase. The pace of growth was the most pronounced in 2017 when exports increased by 85% against the previous year. The volume of export peaked in 2021 and is likely to continue growth in the near future.

In value terms, copper ores and concentrates exports skyrocketed to $X in 2021. In general, exports showed buoyant growth. The pace of growth appeared the most rapid in 2017 with an increase of 113%. The level of export peaked in 2021 and is likely to see steady growth in the near future.

Exports by Country

Kazakhstan was the key exporter of copper ores and concentrates in the CIS, with the volume of exports accounting for X tons, which was near 49% of total exports in 2021. It was distantly followed by Russia (X tons) and Armenia (X tons), together achieving a 49% share of total exports.

From 2012 to 2021, the biggest increases were in Russia (with a CAGR of +34.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest copper ores and concentrates supplying countries in the CIS were Kazakhstan ($X), Russia ($X) and Armenia ($X), together comprising 98% of total exports.

Russia, with a CAGR of +41.9%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in the CIS stood at $X per ton in 2021, growing by 43% against the previous year. Export price indicated resilient growth from 2012 to 2021: its price increased at an average annual rate of +5.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, copper ores and concentrates export price increased by +122.5% against 2016 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2021, the country with the highest price was Russia ($X per ton), while Armenia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kazakhstan (+6.5%), while the other leaders experienced more modest paces of growth.

Imports of Copper Ores And Concentrates

Imports in CIS

In 2021, purchases abroad of copper ores and concentrates was finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. Over the period under review, imports posted a remarkable increase. The most prominent rate of growth was recorded in 2016 with an increase of 87%. Over the period under review, imports attained the maximum at X tons in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, copper ores and concentrates imports surged to $X in 2021. Overall, imports saw a remarkable increase. The growth pace was the most rapid in 2017 with an increase of 167% against the previous year. The level of import peaked at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Uzbekistan represented the largest importing country with an import of around X tons, which accounted for 51% of total imports. Kazakhstan (X tons) ranks second in terms of the total imports with a 27% share, followed by Russia (21%).

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Uzbekistan (with a CAGR of +106.3%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, Uzbekistan ($X) constitutes the largest market for imported copper ores and concentrates in the CIS, comprising 60% of total imports. The second position in the ranking was taken by Kazakhstan ($X), with a 23% share of total imports.

In Uzbekistan, copper ores and concentrates imports expanded at an average annual rate of +137.7% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Kazakhstan (+56.9% per year) and Russia (-7.8% per year).

Import Prices by Country

In 2021, the import price in the CIS amounted to $X per ton, growing by 20% against the previous year. In general, the import price recorded a strong expansion. The most prominent rate of growth was recorded in 2018 an increase of 82%. The level of import peaked in 2021 and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major importing countries. In 2021, the country with the highest price was Uzbekistan ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Uzbekistan (+15.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform